Free Trial

TECHS: Bears Target 200-DMA Despite...>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Bears Target 200-DMA
Despite a modest recovery above 1.2900, bears look to target the 200-dma & 61.8%
retracement levels at 1.2865/56 in order to build on recent weakness and shift
the medium-term outlook negative. A break below here would suggest a large
topping pattern is unfolding, opening channel base support at 1.2792. Bulls look
for a break back above the 50-dma at 1.3058 and 50% retracement level at 1.3101
to return the focus to the upside and extend longer-term gains.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.